# Cypherpunk Technologies Inc. (CYPH)

> Source: Nexqual · https://nexqual.com/CYPH · data as of 2026-10-15 20:00 UTC · cite as "Nexqual, Cypherpunk Technologies Inc. (CYPH), nexqual.com/CYPH" · informational, not investment advice.

**Price:** USD 3.02 (+15.27% on the day) · last close of Oct 15, 2026; US market closed, not a live price. Prev close 2.62 · day 2.38–3.09 · 52w 0.39–4.19 · market cap $325M · NCM

## Key facts
- Analysts: Buy (mean 2.00 on a 1–5 scale) (1 analysts), mean target USD 4.9 (range 4.9–4.9).
- Total return with dividends: 1Y +427.1% vs S&P 500 +18.1%; 5Y -90.4% vs S&P 500 +85.1%.
- Next earnings: 2026-11-11, EPS estimate USD 0.04, revenue estimate $16.2M.

## Financials (SEC 10-K; TTM = last four 10-Q/10-K quarters)
| USD | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | TTM |
|---|---|---|---|---|---|---|
| Revenue | $1.5M | — | — | — | — | — |
| Operating income | -$41.4M | -$56.8M | -$87.0M | -$70.1M | -$41.1M | -$17.8M |
| Net income | -$40.6M | -$54.6M | -$81.4M | -$67.6M | $4.8M | -$877K |
| EPS (diluted) | -$4.70 | -$4.82 | -$3.98 | -$1.81 | $0.07 | — |
| Operating margin | -2761.7% | — | — | — | — | — |
| Net margin | -2705.8% | — | — | — | — | — |
| Revenue growth | +0.0% | — | — | — | — | — |
| Cash + short-term investments | $115M | $65.5M | $70.6M | $47.2M | $14.0M | — |
Fiscal years end Dec. EPS is split-adjusted.

## Valuation (price ÷ last four quarters, through Jun 30, 2026)
P/B 2.3x · Earnings yield -0.27%
P/E at fiscal year-ends: Dec 2025 17.0x.

## Analysts
Consensus Buy (mean 2.00 on a 1–5 scale), 1 analysts; mean target USD 4.9 (low 4.9, high 4.9).
Rating changes, last 120 days:
| Date | Firm | Action | Rating | Price target |
|---|---|---|---|---|
| 2026-09-10 | Cantor Fitzgerald | Target raised | Overweight | $1.6 → $4.9 |
| 2026-08-27 | Cantor Fitzgerald | Reiterated | Overweight | $1.6 |
| 2026-08-19 | Cantor Fitzgerald | Target raised | Overweight | $0.9 → $1.6 |
| 2026-07-01 | Cantor Fitzgerald | Initiated | Overweight | $0.9 |

## Total return (dividends reinvested)
|  | 1Y (from 2025-10-16) | 5Y (from 2021-10-11) |
|---|---|---|
| Total return | +427.1% | -90.4% |
| S&P 500 (SPY) | +18.1% | +85.1% |
| Per year | +430.1% | -37.4% |
| Volatility (annualized) | 232.7% | 152.8% |
| Max drawdown | -82.7% (Nov 2025→Mar 2026) | -99.2% (Dec 2021→Jun 2025) |

## Peers (Asset Management)
BXSL (Blackstone Secured Lending Fund) USD 24.19 +1.81% · VCTR (Victory Capital Holdings, Inc. ) USD 109.3 -0.25% · PDI (PIMCO Dynamic Income Fund) USD 14.38 +1.84% · AMG (Affiliated Managers Group, Inc.) USD 383.04 +1.06% · SEIC (SEI Investments Company) USD 105.27 -0.23% · IVZ (Invesco Ltd) USD 28.8 -0.41%

## More
Full page: https://nexqual.com/CYPH · Free keyless MCP server with the same data and citations: https://mcp.nexqual.com/mcp · Guide for agents: https://nexqual.com/agents · https://nexqual.com/llms.txt